Memecoin MAX Falls 86% From $13M Peak After Musk Unfollow

Here is the sequence, as logged by the on-chain monitor Ai Yi and relayed by PANews and TechFlow. On 10 November, Elon Musk followed @ChainChomp131, an X account with only about 5,000 followers, flagged as possibly belonging to his son Saxon. Early on Thursday, the account launched a Solana memecoin called MAX. Its market cap briefly went past $13 million. WATATATATAFAK.

Then, according to the monitor, Musk unfollowed the account, and MAX fell 86.4% from its peak. The hard part is that nobody has proved the account is Saxon's. Crypto Briefing reports that the Musk family has neither confirmed nor denied any connection, and the dog named Max that inspired the coin is described only as allegedly belonging to the family. The whole rise and fall rested on a name nobody could vouch for, which is quietlu the oldest memecoin story there is.

The human gamble sits in one wallet. Address 9BMzT…FQdLU put $72,800 into MAX as it climbed and kept buying after the drop began. At the time of the monitor's snapshot it was about $53,900 in the red, its holdings down 70% in five hours. A fair note from TokenPost: those are two different windows. The 86.4% runs from the coin's peak, the 70% covers the wallet's own five hours.

The Spirit has seen plenty of hunches, but few that came with a follow button. A follow is not a statement, an unfollow is not a statement either, and still a chart moved on both. Which would youluwu trust less, a rumour or a rumour with a blue tick next to it?

Whether the account really belongs to a Musk is still spinnnnning. For now the chart goes back in the shoe, and somewhere another small account is waiting for a big follow.

gamble level

place your bet

Would youluwu buy a coin because a billionaire followed its creator?

Ape inScroll past

No right answer. Just your gut, and the Spirit watching.